Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Benchmark Electronics, Inc. by 82.9%, selling over 1.4 million shares and now owning approximately 289,560 shares.
• Benchmark Electronics recently announced a quarterly dividend of $0.17 per share, which represents an annualized yield of 1.75%.
• The company's stock price showed slight gains, opening at $38.85, while reporting a 6.5% decline in revenue year-over-year due to challenging market conditions.

Pacer Advisors Inc. lowered its position in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 82.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 289,560 shares of the technology company's stock after selling 1,400,292 shares during the quarter. Pacer Advisors Inc. owned about 0.80% of Benchmark Electronics worth $11,012,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Benchmark Electronics by 197.5% in the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company's stock worth $94,000 after purchasing an additional 1,643 shares during the period. State of Wyoming increased its stake in shares of Benchmark Electronics by 213.4% during the fourth quarter. State of Wyoming now owns 3,563 shares of the technology company's stock valued at $162,000 after buying an additional 2,426 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Benchmark Electronics by 94.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company's stock valued at $213,000 after purchasing an additional 2,278 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Benchmark Electronics by 10.7% during the fourth quarter. Bank of Montreal Can now owns 5,100 shares of the technology company's stock valued at $232,000 after purchasing an additional 495 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Benchmark Electronics during the fourth quarter valued at approximately $252,000. Institutional investors own 92.29% of the company's stock.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock traded down $2.26 on Thursday, hitting $37.01. The company's stock had a trading volume of 215,267 shares, compared to its average volume of 323,631. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.48 and a current ratio of 2.37. Benchmark Electronics, Inc. has a 1 year low of $30.73 and a 1 year high of $52.57. The firm has a fifty day moving average price of $38.49 and a 200-day moving average price of $39.07. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 25.54 and a beta of 0.95.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $642.34 million during the quarter, compared to analyst estimates of $638.67 million. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. Benchmark Electronics's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS.

Benchmark Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, June 30th. Benchmark Electronics's dividend payout ratio is presently 46.90%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Lake Street Capital reduced their price objective on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Needham & Company LLC reduced their price objective on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.